【出版时间及名称】：2010年4月南非证券市场投资文摘
【作者】：摩根斯坦利
【文件格式】：pdf
【页数】：49
【目录或简介】：

Table of Contents (continued)
Contributing Editors: Antonia Grey (Editor-in-Chief), Simon George.
Abbreviations
NM Not meaningful NSA Not seasonally adjusted
NA Not applicable YTD Year to date
N/AV Not available YOY Year on year
FCF Free cash flow A Actual
FFO Funds from operations e Morgan Stanley Research estimates
SA Seasonally adjusted unless otherwise indicated
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Stock Coverage and Valuation
3 South Africa Stock Coverage
4 South Africa Valuation
5 South Africa Market Snapshot
Industry Analysis
6 Consumer & Retail (Tiger Brands,
Pioneer Foods)
Food Producers: Defensiveness Priced In, Not
Buyers for Now
James Easterbrook
8 Electronics and Electrical Equipment
Imports and Poor Demand Result in Weak Pricing
Power
Phihlelo Matjekana
10 Global Metals Playbook
Navigating Liquidity Withdrawal, Policy Tightening
and a Stronger US Dollar
Global Metals & Mining team
12 Metals & Mining
Raising Price Targets on Commodity Forecast
Changes
Leigh Bregman, Albert Minassian
14 Metals & Mining: Platinum
Higher PGM Forecasts; PTs Raised for Implats &
Amplats
Albert Minassian
16 Retail
Location, Location, Location
Danie Pretorius, Natasha Moolman
Company Analysis
20 JD Group Ltd
Improved Relative Risk-Reward: Equal-weight
Danie Pretorius, Natasha Moolman
22 JSE Limited
An Attractive Dividend Play
Louis Chetty, Magdalena L Stoklosa, Derinia Chetty
24 MTN Group
As Good As It Gets – Go UW
Sean Gardiner, Madhvendra Singh, Polina Ugryumova
26 Standard Bank
EM Focus and African Scale
Magdalena L Stoklosa, Louis Chetty, Derinia Chetty
Strategy & Economics
28 Economics
International Trade Dynamics and Implications for
USDZAR
Michael Kafe, Andrea Masia
32 Economics
Fiscal Outperformance May Prompt Sovereign
Ratings (Outlook) Upgrade
Michael Kafe
33 Economics
SARB Cuts 50bp
Michael Kafe
34 Economics
Heavy Reliance on Portfolio Capital
Michael Kafe
37 Asia/EM Equity Strategy
EM equities – looking ahead ten years
Jonathan F Garner
41 Events Diary